BEIJING Nathan Shepherd Hoodie , Jan. 19 (Xinhua) -- Investment in the Chinese economy continued to ebb amid government efforts to destock and cut overcapacity, while fresh drivers like consumption and the service sector become more robust.
The annual growth of China's urban fixed-asset investment, once a key driver of the economy, continued to cool in 2015 to 10 percent year on year Sam Darnold Hoodie , down from 15.7 percent in 2014, official data showed on Tuesday.
This is the latest step in continued deceleration of growth for fixed-asset investment, money used to purchase and build factories, machines Trevon Wesco Hoodie , property and other fixed facilities.
Fixed-asset investment in the agricultural sector jumped the fastest, up 31.8 percent year on year, followed by 10.6 percent growth for the service sector and 8 percent for the industrial sector.
The figures are part of economic data released by the National Bureau of Statistics (NBS) which showed annual growth of the world's second largest economy slowed to 6.8 percent in the fourth quarter of 2015 and 6.9 percent for the whole year.
Investment, which used to be a main driver of the Chinese economy Chuma Edoga Hoodie , has slowed and is now seen as a drag on the overall economic growth.
Investment in the property sector slowed to a larger extent, with its annual growth cooling to 1 percent in 2015, a sharp decrease from the 10.5-percent growth in 2014, official data showed.
Investment in residential housing Jachai Polite Hoodie , which accounts for about two-thirds of the total property investment, edged up 0.4 percent from a year earlier, compared with a growth of 0.7 percent in the first 11 months.
New housing construction dropped 14 percent year on year in the year, with new residential housing construction declining 14.6 percent.
As old growth drivers slow Quinnen Williams Hoodie , consumption has risen to fill take up the slack.
Retail sales of consumer goods, a key indicator of consumption, performed well thanks to pro-consumption policies, jumping 11.1 percent year on year to 2.86 trillion yuan (436 billion U.S. dollars).
Consumption contributed 66.4 percent to the gross domestic product (GDP) in 2015 Trenton Cannon Shirt , up 15.4 percentage points from 2014, NBS data showed.
The rising ratio represents concrete progress in creating a more consumption and service driven economy in order to sustain growth.
The service sector contributed 50.5 percent to the economy in 2015, up from 48.1 percent in 2014, official data showed. It is the first time the service sector has exceeded 50 percent Chris Herndon Shirt , indicating China's economic restructuring has made progress, according to the NBS.
SYDNEY， Feb. 20 (Xinhua) -- A man has deliberately driven his car into oncoming traffic on a Western Australia motorway on Saturday， killing one woman and critically injuring two other people， including himself.
The woman was driving a Toyota Rav4， when the man driving a Toyota Landcruiser swerved into the opposite lane and crashed into her vehicle.
The 62-year-old woman driver was pronounced dead at the scene， while her 54-year-old female passenger was pulled out of the wreckage.
The male driver who swerved into traffic， was thrown from his car after it rolled and caught on fire.
Witnesses said they tried to notify the man driving the Landcruiser that he lost items off his car， but he ignored them， and they watched in horror as he careened into the opposite lane， as opposite traffic struggled to avoid being hit.
"As soon as we seen him run someone off the road we called police immediately and started recording，" the witness said.
One of the witnesses who was run off the road by the man， was in shock after seeing the driver's face as he narrowly avoided hitting him.
"The guy's face was unbelievable， like I've never seen before. He was jumping around in his car going nuts like he was happy about what he had actually done，" the witness said.
Both the Landcruiser driver and the Rav4 passenger were taken to Royal Perth Hospital where they are currently in critical condition.
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